TAIPEI -- Taiwan's unemployment rate dropped to 3.66 percent in March as the service sector created more jobs, the island's statistics agency said Monday.

The figure was 0.04 percentage points lower month on month and 0.12 percentage points lower year on year, according to the agency.

There were around 433,000 unemployed people in Taiwan in March, 5,000 less than February, and 11.4 million employed people.

The unemployment rate of those with a college degree was 5.05 percent, the highest among all educational levels.

In terms of age, the unemployment rate of the 20-24 age group was the highest, followed by the 15-19 and 25-29 age groups, according to the agency.